2017-145 2017-145
A Resolution Authorizing, Subject To Permissive Referendum, The Reconstruction Of Roads
Throughout And In And For The Town Of Wappinger, Dutchess County, New York, At A
Maximum Estimated Cost Of$650,000, And Authorizing The Issuance Of$650,000 Bonds Of Said
Town To Pay The Cost Thereof
At a Regular Meeting of the Town Board of the Town of Wappinger, Dutchess County, New
York, held at Town Hall, 20 Middlebush Road, Wappingers Falls, New York, on August 21, 2017.
The meeting was called to order by Lori A. Jiava, Town Supervisor, and upon roll being called,
the following was recorded:
✓Vote Record-Resolution RES-2017-145
Q Adopted Yes/Aye No/Nay Abstain Absent
❑ Adopted as Amended Lori A.Jiava Voter Q ❑ ❑ ❑
❑ Defeated William H.Beale Seconder Q El El El❑ Tabled
William Ciccarelli Voter Q ❑ ❑ ❑
❑ Withdrawn John J.FentonVoter Q El El ElMichael Kuzmicz___ Mover Q ❑ ❑ ❑
The following Resolution was introduced by Councilman Kuzmicz and seconded by Councilman
Beale.
WHEREAS, all conditions precedent to the financing of the capital project hereinafter described,
including compliance with the provisions of the State Environmental Quality Review Act as a Type II
Action, have been performed; and
WHEREAS, it is now desired to authorize such capital project and its financing; NOW,
THEREFORE,
BE IT RESOLVED, by the Town Board of the Town of Wappinger, Dutchess County, New
York, as follows:
Section 1. The reconstruction of roads throughout and in and for the Town of Wappinger,
Dutchess County, New York, including incidental improvements and expenses in connection therewith,
is hereby authorized, subject to permissive referendum, at a maximum estimated cost of$650,000.
Section 2. The plan for the financing of the aforesaid maximum estimated cost is by the
issuance of $650,000 bonds of said Town, hereby authorized to be issued therefor pursuant to the
provisions of the Local Finance Law.
Section 3. It is hereby determined that the period of probable usefulness of the aforesaid
class of objects or purposes is fifteen years, pursuant to subdivision 20(c) of paragraph a of Section
11.00 of the Local Finance Law. It is hereby further determined that the maximum maturity of the
bonds herein authorized will exceed five years.
Section 4. The faith and credit of said Town of Wappinger, Dutchess County, New York, are
hereby irrevocably pledged for the payment of the principal of and interest on such bonds as the same
respectively become due and payable. An annual appropriation shall be made in each year sufficient to
pay the principal of and interest on such bonds becoming due and payable in such year unless paid from
other revenues. There shall annually be levied on all the taxable real property of said Town, a tax
sufficient to pay the principal of and interest on such bonds as the same become due and payable.
Section 5. Subject to the provisions of the Local Finance Law, the power to authorize the
issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the bonds
herein authorized, including renewals of such notes, is hereby delegated to the Supervisor of said Town,
the chief fiscal officer. Such notes shall be of such terms, form and contents, and shall be sold in such
manner, as may be prescribed by said Supervisor, consistent with the provisions of the Local Finance
Law.
Section 6. All other matters except as provided herein relating to the bonds herein authorized
including the date, denominations, maturities and interest payment dates, within the limitations
prescribed herein and the manner of execution of the same, including the consolidation with other
issues, and also the ability to issue bonds with substantially level or declining annual debt service, shall
be determined by the Supervisor, the chief fiscal officer of such Town. Such bonds shall contain
substantially the recital of validity clause provided for in Section 52.00 of the Local Finance Law, and
shall otherwise be in such form and contain such recitals, in addition to those required by Section 5 1.00
of the Local Finance Law, as the Supervisor shall determine consistent with the provisions of the Local
Finance Law.
Section 7. The validity of such bonds and bond anticipation notes may be contested only if:
1) Such obligations are authorized for an object or purpose for which said Town is not
authorized to expend money, or
2) The provisions of law which should be complied with at the date of publication of this
resolution are not substantially complied with,
and an action, suit or proceeding contesting such validity is commenced within twenty days after the
date of such publication, or
3) Such obligations are authorized in violation of the provisions of the Constitution.
Section 8. This resolution shall constitute a statement of official intent for purposes of
Treasury Regulations Section 1.150-2. Other than as specified in this resolution, no monies are, or are
reasonably expected to be, reserved, allocated on a long-term basis, or otherwise set aside with respect
to the permanent funding of the object or purpose described herein.
Section 9. Upon this resolution taking effect, the same shall be published in full or summary
form in the official newspaper(s) of said Town for such purpose, together with a notice of the Town
Clerk in substantially the form provided in Section 81.00 of the Local Finance Law.
Section 10. THIS RESOLUTION IS ADOPTED SUBJECT TO PERMISSIVE
REFERENDUM.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED [UNANIMOUS]
MOVER: Michael Kuzmicz, Councilman
SECONDER: William H. Beale, Councilman
AYES: Jiava, Beale, Ciccarelli, Fenton, Kuzmicz
Dated: Wappingers Falls, New York
8/21/2017
The Resolution is hereby duly declared Adopted.
JOSS P P. PAOLONI, TOWN CLERK